US dollar rose from last week’s minimums versus Japanese yen in the 81.10 area getting above resistance at 82.80/87. Technical analysts at Commerzbank expect the pair USD/JPY to grow to 84.41/51.

US currency will face resistance at 83.70/75 (78.6% Fibonacci retracement of the decline from December to January and January maximum). These levels will manage to hold the pair’s advance only for some time, say the specialists. Then the greenback will climb to the recent maximums at 84.41/51. In the longer term, USD/JPY will be poised up to 88.00/15.

According to Commerzbank, support will lie at 82.30 and 81.13/80.93 zone (Fibonacci retracement and 2011 minimum).



Chart. Daily USD/JPY

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